There's no shortage of doomsters out there calling the end of the financial world as we know it.

They tell us it will be much worse than the 2008 banking crisis. There will be bank runs, bail ins, collapsing stock and bond markets with Gold up to $10-50,000 plus, as world credit implodes.

Or is this just a temporary blip that has taken out the cocky and unwary, who were making oodles of cash from what they had convinced themselves was a one way, no risk bet, blindly buying stocks and shorting volatility?

When, and if, the big one hits, bond yields could well be the catalyst. If at some point, governments are unable to sell their bonds without offering much higher interest rates, then that could well be the start of the big one.

For now, markets in general have not buckled. Bond interest rates have stabilised this week so Central Banks are still in control and the Gold price, that spikes up when danger is around the corner, is now falling back. No worries!!